A growing turn to philanthropy

In 2018, more nonprofit newsrooms will be launched than North Korean test missiles. As Facebook and Google suck up the ad revenues and all but a handful of media companies find digital subscriptions a hard sell, more and more will turn to philanthropy — foundations and the people I’ve learned to refer to as High Net Worth Individuals. (Even The New York Times is building a nonprofit arm in pursuit of foundation money.) One interesting thing to watch is whether new wealth (meaning especially tech wealth) will overcome its wariness of independent news media.